Major Analyst Upgrades on Tesla Motors (NASDAQ: TSLA)
Los Angeles, California, September 18, 2014 – StockWatchIndex, LLC (SWI), a leading provider of financial information and advisory services for publicly traded companies on the NYSE, NASDAQ and OTCB today announced that two major analyst firms have upgraded Tesla Motors.
Credit Suisse initiates with an Outperform rating of $324.93
In a note published Monday morning, FBN Securities analyst Shebly Seyrafi initiated coverage on Tesla Motors Inc (NASDAQ: TSLA) with an Outperform rating and a $325 price target. Seyrafi’s Buy rating for Tesla, like many, is based on the future growth opportunities of the company. She noted Tesla currently holds only 2.2 percent of its worldwide addressable market for premium sedans, which leaves tremendous room for growth. Seyrafi also noted the Model 3 is expected to sell at $35,000 to 40,000, about half of the current price for the Model S, which she said should be a “significant” catalyst for growth. As a final note, Seyrafi stated that Tesla’s Gigafactory is expected to be fully operational in 2020. Read more: http://www.benzinga.com/analyst-ratings/analyst-color/14/09/4831866/update-fbn-securities-initiates-coverage-on-tesla-motors#ixzz3DgiFrhKE
In a note dated August 13, Credit Suisse analyst Daniel Galves initiated coverage of Tesla Motors (NASDAQ: TSLA) with an Outperform rating and a $324.93. “Electric vehicles are inherently better than Internal Combustion (ICE) vehicles,” said Galves. “If Tesla can get to cost-parity with ICE and still offer $1,400-$2,500 per year fuel savings to the consumer, it won’t be a fair fight.” Galves believes Tesla is in fact on the road to cost parity. He noted that the Gigafactory is a “major step” in that direction and says battery costs for the Model S and X could come down to the $10,000-11,000 level with the battery costs for the Model 3 as low as $7,500. Read more: http://www.benzinga.com/analyst-ratings/analyst-color/14/08/4780301/credit-suisse-initiates-coverage-on-tesla-says-its-not-a#ixzz3DgiRYGNm
SWI has been carefully monitoring Tesla’s development for a long time and since initiation by SWI (and purchase for the SWI portfolio) the Tesla share price has increased by 86%. For more information go to TESLA on StockWatchIndex.com, or follow our Twitter and Facebook posts (below) that provide the most current and crucial information throughout the day.